Market Cap:
$210B
BTC Dominance:
65.98%
btc:
$7,662.69
eth:
$162.24
xrp:
$0.24
Advertise
Forex

30 Sept 2014 AUD/USD Analysis

30 Sept 2014 AUD/USD Analysis

AUDUSD, AUD/USD, Aussie, Aussie Dollar, Australian, RBA, Reserve Bank of Australia, AUD The slide of the AUD/USD continues as the low of January 2014 close in

AUDUSD, AUD/USD, Aussie, Aussie Dollar, Australian, RBA, Reserve Bank of Australia, AUD Technical resistance at 0.874 looks set to push the rate lower towards 0.8659 (lowest attained in 2014) and technical support at Fibonacci extension 0.8627

AUDUSD, AUD/USD, Aussie, Aussie Dollar, Australian, RBA, Reserve Bank of Australia, AUD Reversals look unlikely as Traditional MACD looks firmly in the bearish zone, while markets do not look oversold at the moment

Equities fell as the U.S dollar continues to advance, supported by data that consumer spending has rebounded as the Fed may raise interest rates sooner than expected. The Australian dollar enters its fourth week of bearish movement after resistance at 0.94 against the greenback saw the “overvalued” currency plummet past 0.874. With the RBA flatly supportive of  a weaker rate of exchange, we could see the markets trade this pair towards 0.85 as early as October.

Trend Direction
S3
S2
S1
R1
R2
R3
Entry
Stop Loss
Exit
Bearish0.86270.86590.870.8740.8810.8850.870.8760.85

Disclaimer: The views and opinions expressed in this article are solely those of the author and do not reflect the official policy or position of AtoZ Markets.com, nor should they be attributed to AtoZMarkets.